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Missouri Legislature North St. Louis Northside Regeneration

North St. Louis Landbanking Proposal May Be Dead for This Session

by Michael R. Allen

HB 327, the costly omnibus economic development bill passed from the Missouri Legislature that includes the Distressed Areas Land Assemblage Tax Credit Act, may be headed for a veto from Governor Matt Blunt.

SB 22, which modified laws relating to political subdivisions, that inappropriately contains the Distressed Areas Land Assemblage Tax Credit Act (oddly with a 100-acre minimum), appears to be dead this session.

HB 991 contains only the Distressed Areas Land Assemblage Tax Credit Act, but has not proceeded. The prospect of an up-or-down vote directly on the proposal probably doesn’t appeal to the proposal’s backers. For one thing, the process could lead to amendments that would make the credits actual public policy instead of a law for private benefit. For another, this tax credit proposal is one of the least popular bundled into the omnibus.

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